Statement of cash flows
OF CASH FLOWS / € million
Cash flow from operating activities
Cash flow from investing activities
Cash flow from financing activities
Net change in cash and cash equivalents
Cash and cash equivalents as of Dec 31
- The significant increase in cash flow from operating activities was mainly due to the improved profit development. This was countered by working capital effects resulting in particular from business development at DB Schenker.
- Cash outflow from investing activities increased further, due primarily to higher net capital expenditures. In addition, higher payments for investments in financial assets, primarily for the leasing of rolling stock from contracting organizations as part of service concession agreements, had an effect.
- Cash inflow from financing activities decreased:
- The higher redemption of financial loans led to a net outflow of cash (€ –2,015 million; previous year: net inflow of cash amounting to€ 1,286 million). The redemption of interim financing for the Covid-19 support measures of the Federal Government issued in 2020 had a notable effect. In addition, the decline in net inflow of cash from senior bonds (€ –221 million) and the increase in cash outflows for lease redemptions (€ –194 million) reduced the inflow.
- This was offset by the equity measures of the Federal Government (€ +2,675 million) as part of the Climate Action Program and to partially offset losses resulting from Covid-19, as well as the cessation of the dividend payments to the Federal Government (€ +650 million).
- On balance, as of December 31, 2021, cash and cash equivalents had increased significantly.